ISL Health enters into a project agreement with Northern Health and achieves financial close

On July 16, 2009, ISL Health (FSJ) General Partnership ("ISL"), a partnership between Innisfree ISL Health (FSJ) Gpco Ltd. and Acciona FSJ GP Ltd., entered into a project agreement with the Northern Health Authority ("Northern Health") and achieved financial close with respect to the Fort St. John Hospital and Residential Care project. The project is a design, build, finance and operate Public Private Partnership for a new regional hospital and residential care facility to be located in Fort St. John, British Columbia. The project agreement requires ISL to design, build and finance the facilities and provide facilities management services for a period of 30 years from service commencement. The facilities are scheduled to open in spring 2012, and are expected to cost $297.9 million. Northern Health provides health services to 300,000 people over an area of 600,000 square kilometers in northern British Columbia. Northern Health was represented by David Little, Ann Madden, Mark Gustafson, Carmine Boskovich, Kareen Zimmer and Andrew Jackson of Fasken Martineau in respect of the project agreement and land rezoning, subdivision and acquisition.